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"The French banking industry is probably the safest in Europe in terms of cost of risk and quality of assets"
Séverin Cabannes, Société Générale |
In the month the sovereign debt crisis briefly came home to core Europe, a senior French banker had a surprise message.
"I would say that the French banking industry is probably the safest in Europe in terms of cost of risk and quality of assets," says Séverin Cabannes, deputy chief executive of Société Générale.
That’s a bold statement to make at the best of times. Making it at the moment when your shares are suspended in early trading on the Paris Stock Exchange sounds positively swashbuckling. Cabannes was speaking to Euromoney soon after the release of Société Générale’s second-quarter results in August. These indicated that group net income...
